Hyperliquid leads weekly crypto gainers with 17% rise as market sells off

Hyperliquid (HYPE), MemeCore (M) and Quant (QNT) are among the best-performing cryptocurrencies this week, gaining 17%, 9% and 7%, respectively, despite mounting pressure across the broader crypto market.

The global crypto market cap dropped to $2.69 trillion on Friday, as Bitcoin (BTC) briefly fell below $77,000 before recovering near the $78,000 support level, which it has held for over a month. The decline fueled $1.67 billion in crypto futures liquidations, with Bitcoin liquidations accounting for $562 million.

The sell-off spread across major altcoins, with Ethereum (ETH) falling 3.9%, XRP dropping 3.8% and BNB losing 6.3% in the past 24 hours.

The renewed weakness coincided with a $6.3 billion hack on crypto exchange Binance, which triggered widespread liquidations across the crypto market. Sell-offs intensified further after tech stocks dipped on Friday, with the S&P 500 and Nasdaq down 2.2% and 3.6%, respectively.

Despite the market downturn, six cryptocurrencies led gains this week as markets bleed into the weekend.

Best-performing cryptocurrencies: HYPE, M and QNT lead weekly gains

Hyperliquid (HYPE)

WoW: 17%

Hyperliquid leads the weekly ranking with a 17% gain, supported by growing institutional interest in its HIP-3 perpetual futures markets and expanding partnerships with traditional finance firms.

On Thursday, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced a strategic investment in Trade[XYZ], a leading deployer of real-world asset (RWA) perpetual markets on Hyperliquid.

Under the agreement, ICE will exclusively operate Trade[XYZ]'s regulated markets and establish a dedicated US trading and clearing structure, subject to regulatory approvals. The proposed platform will offer perpetual contracts tracking equities, commodities, foreign exchange and other assets.

The announcement followed Hyperliquid's confirmation that Kraken parent Payward intends to become its first CFTC-regulated HIP-3* deployer. The proposed arrangement would use Bitnomial for market deployment, clearing and settlement, potentially expanding access to on-chain perpetual futures for US customers.

Together, the developments highlight growing institutional interest in Hyperliquid's derivatives infrastructure.

HYPE is trading at $91, up 1.5% in the past 24 hours at the time of writing.

MemeCore (M)

WoW: 9%

MemeCore followed with a 9% weekly gain as the meme-focused blockchain expands its cross-chain capabilities.

The network recently integrated LayerZero and Stargate, enabling transfers of its native M token and stablecoins, including USDC and USDT, to BNB Chain and Base.

The integration lets MemeCore assets move across multiple blockchain ecosystems, expanding accessibility and potential liquidity.

However, M is down 10.7% in the past 24 hours amid a broader crypto sell-off.

Quant (QNT)

WoW: 7%

Quant gained 5% as institutional interest in blockchain interoperability and tokenized financial infrastructure continues to strengthen its price.

The Clearing House announced in late September that it had selected Quant to power its On-Chain Money Initiative, an interoperable payments network designed to facilitate the clearing and settlement of tokenized bank deposits.

QNT is down 1.2% in the past 24 hours at the time of writing.

Pepe (PEPE)

WoW: 5%

Pepe also continued its positive weekly run, up 5% over the past 7 days. The token posted similar gains last week after Coinbase founder Brian Armstrong tweeted a frog-themed Pepe meme.

The popular memecoin has maintained a positive weekly return despite the broader sell-off and renewed macro pressure.

PEPE was particularly hit by the Binance exploit on Thursday. The memecoin is down 5.6% in the past 24 hours as the hack's impact continues to weigh on its price.

LEO Token (LEO)

WoW: 4.1%

LEO Token advanced 4.9% over the past week. The utility token, issued by crypto exchange Bitfinex, provides trading fee discounts and other benefits across its ecosystem.

The token also features a buyback-and-burn mechanism through which iFinex commits at least 27% of its monthly consolidated revenues to repurchasing and permanently removing tokens from circulation.

LEO is down 0.7% in the past 24 hours at the time of writing.